DETROIT – Detroit is home to many talented small business contractors, but too often, they face roadblocks that keep them from growing. Now a new program by the Gilbert Family Foundation is helping break down those barriers.
For nearly 25 years, Detroit native Darryl Smith has been remodeling kitchens and bathrooms across the city. But like many small contractors, his business often ran into walls that had nothing to do with construction.
Smith and his wife, Simone, started SIDA Enterprise back in 2002 as a family legacy. Today, they are among the first contractors to receive support from the new Ignite Detroit Contractors Fund, a $1.2 million initiative from the Gilbert Family Foundation.
“I’m here because of Ignite,” Darryl said. “The people that I’m meeting and the avenues that it’s going to potentially open up for me once we get through the program are invaluable.”
The program is designed to move small businesses from surviving to thriving by providing hands-on training, financial guidance, and a network of support.
“The goals for the Detroit Ignite Contractor’s Program is to help build capacity for early start contractors in the city of Detroit,” said Kinnus Paul of the Gilbert Family Foundation. “We want to make sure they can grow and scale their businesses to take on larger projects.”
Michigan Women Forward helps manage the program while industry mentors guide participants through real-world challenges.
“Having a lending partner can really accelerate your growth. They teach you not only how to get the loan but we also provide technical assistance to manage your cash flow,” said Dr. Kimle Nailer, with Michigan Women Forward. “The training you learn in financial leadership, you’re learning all these skill sets so you can actually get loans, manage it, repay it and continue to grow and scale.”
For Smith, it means more than just growing his company. It’s about creating opportunity and leaving a legacy.
“My goal is to have a company that’s around for 100 years and I tell my kids all the time we’re a quarter of the way there. It’s up to you guys to pass it on to your kids and take it to the next 100 years, so that’s my goal. I want to have a business that’s feeding my family for 100 years,” Smith said. “You can come from any walk of life and overcome anything and do construction and be successful. I think the skilled trades are lacking in the schools now. Everybody can’t afford to go to college and that’s not everybody’s role. But if you can go in and get a skilled trade and become a contractor, a plumber, an electrician, a brick mason — especially in Michigan, especially in Detroit right now — there’s really an opportunity to build a business and to live well.”
The Ignite Detroit Contractors Fund is open to local contractors who meet certain requirements. They accept contractors on a rolling basis.